19 Dec 2006

Black or white?

Rs 50 lakh were paid as ransom for the release of Anant Gupta, the son of Adobe India Chief, who had been kidnapped this Monday. This was revealed on late Friday night with STF launching an operation at Kakod Near Bulandshehar.

Naresh Gupta admitted that he had paid Rs 50 lakh to secure his son's release, a fact that even the Noida police were not told about.

full article

I guess most people assumed (like the kidnappers did i'm sure) that the head of India operations of Adobe would have that much to spare. On the other hand, it looks like our Income tax Department had no idea that there was that much money involved in the business.

The Income Tax Department has slapped a notice on Adobe India CEO Naresh Gupta, who had allegedly paid a huge ransom to kidnappers for release of his three-year-old son Anant in November. Additional Income Tax Commissioner Amar Vir Singh has asked Gupta to appear before him on December 28, informed sources said.

The department has sought from Gupta details about his property, bank balance and other things to determine that the alleged ransom amount was not part of any hidden income, the sources said.

full article

While the media kept portraying the helpless family during the 3 day ordeal the second news item was buried somewhere inside. Black money or white money? Your guess is as good as mine.

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